Tata Motors Ltd to raise Rs. 7500 crores through rights issue

The Board of Directors of Tata Motors Ltd at its meeting held on January 27, 2015, has decided to seek approval of the Shareholders' through a postal ballot for raising funds, upto Rs. 7,500 crores through a rights issue of Ordinary Shares and 'A' Ordinary Shares (having differential rights as to voting and dividend), for meeting the Company's growth plans as well as for reducing the debt on its balance sheet.

The quantum, pricing and timing of the issue will be decided at a later point in time, depending upon the market conditions post Shareholders' and other approvals.

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.605.1 as compared to the previous close of Rs. 587.9. The total number of shares traded during the day was 485638 in over 14979 trades.

The stock hit an intraday high of Rs. 608.4 and intraday low of 593.05. The net turnover during the day was Rs. 292038939.

Source : Equity Bulls

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